Bulls pull markets out of 4-session falling streak; ICICI Bank shines post Q2 show

Mumbai: The Sensex and Nifty found firmer ground on Monday after a four-session losing streak, boosted by a rally in ICICI Bank which has posted record profits for the September quarter.

Recovering from a weak start, the 30-share BSE Sensex ended 145.43 points or 0.24 per cent higher at 60,967.05. Similarly, the broader NSE Nifty advanced 10.50 points or 0.06 per cent to 18,125.40.

ICICI Bank hogged the limelight in the Sensex pack, soaring 10.80 per cent, after the private sector lender on Saturday reported its highest-ever standalone quarterly profit at Rs 5,511 crore for the September quarter on the back of healthy loan growth across verticals and a fall in bad loans.

Axis Bank, Dr Reddy's, SBI, M&M, Tech Mahindra, Sun Pharma and HUL were the other winners, climbing up to 3.45 per cent. On the other hand, Bajaj Finserv, Bajaj Auto, HCL Tech, Asian Paints, Maruti, Nestle and IndusInd Bank were among the laggards, slipping as much as 3.04 per cent. The market breadth was negative, with 22 out of the 30 Sensex constituents closing in the red.

Sectorally, BSE bankex and finance rallied up to 2.30 per cent, while realty, auto, consumer durables and utilities indices notched up losses. Broader BSE midcap and smallcap gauges slumped up to 1.76 per cent. Meanwhile, international oil benchmark Brent crude rose 0.73 per cent to $85.26 per barrel.

The rupee declined by 18 paise to close at 75.08 against the US currency on Monday due to a spike in crude oil prices.